 All right. Now, before I get to David's comments, the only one option that actually exists is if the workers own the factory. But if the workers own the factory, who manages it? Who's the boss? Who organizes it? Who determines how the resources are allocated? Who decides whether you're being productive or not productive? Who decides how much to pay you? And how much should they pay you, even if the workers are organizing this? How much should they pay you? Now, in many tech companies, for example, and I think more and more in other companies as well, workers do get a percent of the profit. And I think that's great. I think it aligns incentives. I think it makes a lot of sense to give people stock options, to give, problem is that regulations make it very difficult these days to give stock options, to give them stock, to encourage them to own stock. But if you don't have, if you don't understand that businesses don't come into existence unless there's an entrepreneur, that businesses don't come into existence unless there's a capitalist willing to risk capital, that businesses can't sustain themselves in business unless there are people who specialize in managing, unless there are people willing to provide ongoing capital, unless there's a division of labor, unless those capital providers get a return on their capital. If you don't understand that, then you have no conception of how businesses exist. And if the workers own the business, there is no business. The workers go back to subsistence farming. There is no egalitarian business. I know their dream is to have businesses where you vote on everything. You remember Atlas Shrugged? And if you haven't read Atlas Shrugged, oh my God, you should read Atlas Shrugged. I don't know what you're waiting for. The most important book in the world for you to read is Atlas Shrugged. So you remember in Atlas Shrugged, what happens when the workers start voting and everything? In what is it, century, 21st century autos, 20th century motor? Remember what happens? It's a complete and utter disaster. And that's not fiction. That's reality. That's reality everywhere it's tried. I mean, there are few businesses that are run communally and they always give this one in Spain and there's one, you know, very rare. They don't last long. They used to go bankrupt pretty quickly. But you know, they've got one example and they use it over and over again. The fact is, it cannot work. It cannot work. All right. Because they don't understand how production actually happens and that you need people thinking. And you need people in charge of thinking. And not everybody is equal in their ability to think. All right, let's keep going. So I have two more clips to get to. But look, if this is your introduction to Richard Wolfe, follow him on Twitter, follow him on YouTube, look up his speeches. The guy's brilliant. I mean, you don't have to be a socialist or a Marxian economist to understand the inherent flaws in capitalism. It's okay to critique the system. I mean, people are so it's hilarious like how Marxists have such have become such a scary word or scary people. All Marxism is there's a reason for that. And the reason Marxism is a scary word and Marxist scary people is because Marxism at the heart and at the root of communism. Communism is the application in real life of Marxism. Marx wrote the Communist Manifesto. Communism is not some perversion, some some weird interpretation of Marx. It is the manifestation of Marx. So yes, when 100 million people die because a certain set of ideas is being implemented, then people are going to be scared. People are going to resist those ideas. What a, you know, just a stunning thought that that would be the case. Why? Why are they going to resist? Well, because millions of people died. These ideas are dangerous. Ideas can be dangerous. All right. So that's, you know, why people scared of Marxist? They just listen to this, what he says Marxism is. Or is a critique of capitalism. That's okay. Let me go backwards. Let me go back a little bit. I've become such a scary word or scary people. All Marxism is or is a critique of capitalism. That's all it is. Really? Really? Have you ever read Karl Marx? Do you know what Karl Marx actually wrote? Yes, he critique capitalism and offered an alternative system advocated for it. And people then implemented it. And when they implemented hundreds or tens of millions, over 100 million people died as a consequence of that implementation. And we should take a Marxist economist seriously. Give me a break. Give me a break. All right, let's go back. Understanding the inherent flaws in capitalism. That's all being a Marxist is. So understand that. Now, a lot of this to us, look, as he kind of points out there, it's hard to really grasp this because it's normal to us. This is the world that we live in. So until somebody points out how, yeah, where is the profit going? It's going to the people who actually put the business together. It's going to the people who have risked capital, have risked the capital on the business. It's going to the people who don't have a steady, regular income. It's going to the people who have ideas, who produce, who create. It's going to the people who figure out how to allocate labor within a particular business and figure out who should do what. It's going to the people who actually produce most of the value. That's where the profit is going. Management and shareholders. Why am I not being paid more than I'm being paid? Probably because you don't produce enough. Because they have to be able to make money off of me, off of my work. So I'll be paid less than what I produce in terms of labor. Yeah, because otherwise you don't have a job. Otherwise nobody's going to employ you. Now, you may think, well, of course that should happen because the employer, well, they run the business. So they get to run the show. They get to decide. But then couldn't you make that same argument about slavery, about feudalism? Can you just say, oh my God, did you notice that? Slavery and feudalism. It's faith and feudalism as capitalism. Slavery and feudalism, you can't leave. You can't change jobs. You can't, you know, there's a gun to your head. It's force. Working for business is a voluntary transaction. Slavery is not a voluntary transaction. Right? I mean, isn't that pretty simple? Feudalism, you couldn't go to wait. You couldn't switch. You couldn't go to a different lord. You couldn't go to a different piece of land. You couldn't cultivate something different. You were stuck because force was being used against you. Right? That's, I mean, the idea that you can equate the two. An idea that again, nobody even thinks about it. Nobody even considers that this is complete garbage. And Marxism is a legitimate field of study that people actually engage in. It is just, you know, it's truly stunning and it's so revealing of the state of the world in which we're in. Of course they get to decide because they own you. Of course they get to decide what to do with that. I mean, understand here that there is a different path. You can have the workers own the means of production. You can have the workers decide, the workers vote on, democratize the... But since when is democracy equal truth? How do we figure out what is right and what is wrong? How much capital to allocate? Who should do what work? Really, we're going to vote on that? The majority is somehow smart enough to run a business? That is so nutty and so just, just science fiction. Well, but even in science fiction it can't happen. I mean, again, specialization. This is what they reject and what they have to reject because specialization requires the use of the mind and all they can see is physical labor. So the idea that there are people who specialize in management. No, the people who specialize in marketing. No, we're going to vote on management issues. We're going to vote on marketing. Well, what you get is what we got in 20th century mode in Atlas Shrug. What you get is what you got on the Kibbutz in Israel. What you get is what you get is when labor unions run businesses, they run them into the ground. Allow the workers to decide what to do with these profits. But that isn't the current system we live in unless you work for a workers' co-op. So there are workers co-op. There are very few workers co-op because workers co-op can compete because workers co-op are not efficient. Because workers co-op cannot innovate. Workers co-op cannot. There's not a single workers co-op in Silicon Valley. Workers co-op cannot make new stuff. Maybe they can do simple stuff like groceries, grocery stores, but even that, even that, they cannot without other businesses who set the standard who are competitive businesses. It's a completely bogus idea. It's out there where, as I just said, there's democracy in the workplace. So think about it. We have democracy in our lives in a sense because, you know, through politics, but we don't have democracy in the time that we spend most of our lives in, in the workplace. Why don't we get a say there? So this is, this is what Richard Wolff points out. And he's the best at it in my opinion. Actually, before- Now note, note again, and I said this about, about Cornel West. The God is democracy. The God is democracy. So we vote on political things. Why can't we vote on business things? Maybe we should vote on who you should marry. I think we should vote on who you should marry. Or we should vote, we should democratically vote on whether it should be gay marriage. We should be vote on abortion. You know, then they, they get all upset, but, but this is your God. Democracy is your God. Why are there suddenly rights when it comes to a woman's right to choose, which I support, by the way. Why are they rights when it comes to gay marriage, which I support, by the way. But anything else are no rights and everything else we vote. They're both hypocrites. But more importantly, they view, they view democracy as this all encompassing God that, that, you know, that we must follow, that everything must be based on democracy. What we need today, what I call the new intellectual would be any man or woman who is willing to think. Meaning, any man or woman who knows that man's life must be guided by reason, by the intellect, not by feelings, wishes, whims or mystic revelations. Any man or woman who values his life and who does not want to give in to today's cult of despair, cynicism and impotence, and does not intend to give up the world to the dark ages and to the role of the collectivist broads.